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Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
 With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed to stay above the 4,000 point mark, among the highest levels reached since the financial crisis back in late 2008, led to a collapse of the shipping markets as well. According to the latest Hellenic Shipping News poll, where a total of 4,605 votes were casted, China’s iron ore imports will continue to be the leading factor determining the course of rates.
A total of 1,707 of answers or 37.1% said that this will be the most important gauge for rates, as was the case in the previous years – and especially during 2009 – as well. An equally important 22.4% of votes or 1,031 in total said that newbuiling deliveries, directy affecting tonnage supply will be the main cause for altering the course of freight rates. With capesize deliveries during the first quarter of the year reaching record levels, many analysts remain cautious about the prospects of the market, especially during the second half of the year, when more deliveries have been scheduled.
Similarly, newbuilding cancellations will be the third most important factor according to the Hellenic Shipping News readers. A total of 13.9% or 638 voters claimed this very thing, as more cancellations could help alleviate future supply pressures, although that can’t be said for 2010, but more for 2011 going forward. The same alleviating consequences can derive from the scrapping of older dry bulk carriers, which was the fourth most important factor, accumulating 620 votes (13.5% of the total). So far this year, demolition activity for dry bulk vessels has remained quite low, as prices for second hand carriers began firming up. Still, scrap prices have exploded, which in turn has prompted scrapyards to increase their offers towards ship owners to near record levels. Despite these developments, most ship owners weren’t enticed and preferred to keep their older ships in service, at least as long as freight rates are at levels which sustain profitability to satisfactory levels.
Another factor (609 answers or 13.2%) which could keep rates at high levels is the rapid increase of coal imports from the powerhouse of India. The country has tremendous needs of electiricity producing coal, which could see this year’s imports increase to 100 million tons. As a result, many analysts expect the creation of another major dry bulk market for seaborne trade, after the emergence of China early in the decade.
During this month (June) we return to one of your favorite questions. We ask readers about the level of the BDI (Baltic Dry Index) during the second half of the year, proving a range of choices, from the pessimistic end to the more optimistic one. With many analysts doubting whether the market can sustain today’s high levels, it would be rather interesting to see what you think.
Finally, for those of you who will attend this year’s Posidonia Exhibition, don’t forget to stop by the Hellenic Shipping News Worldwide “Dry Bulk Forum”, scheduled for Thursday, 10th of June, from 10:45 am to 12:45 pm. Speakers include Mr. Dale Ploughman, CEO of Seanergy Maritime Holdings Corp., Mr. Dimitris Nenes, President and COO (Chief Operating Officer) of OceanFreight Inc., Mr. Christofer Thomas, Chief Financial Officer of Paragon Shipping Inc., Mr. Ted Petropoulos, head of Petrofin Research, Mr. George Xiradakis, CEO of XRTC Business Consultants and Mr. John Pachoulis, President of the Hellenic Shipbrokers Association.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
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- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Planning Commission, India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Parliament of New Zealand
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